The Indian Rupee onened at 65.1425 up by 11 paisa, it reaches to the level of 65.0325 in the 1st half per Dolllar versus 65.25 yesterday. As per expection, The Federal Reserve Raised fed rate by 25 bps for balancing inflationary risk with elevated growth rate. The US could ignite a trade war with china and on doubts about the Fed’s outlook. The US dollar had its biggest one-day decline in nearly two months amid concerns.
- Retail Sales (YoY) of South Africa registered at 3.1%, below expectations (6.2%) in January.
- Retail Sales ex-Fuel (MoM) of United Kingdom above forecasts (0.4%) in February: Actual (0.6%).
- Monetary Union Markit PMI of Europe Composite below expectations (56.7) in March: Actual (55.3).
USDINR showed negative movements after Fed hikes rate by 25 basis point closed with negative note. Found strong support of psychological level of 65.0000 if break it in upcoming session then more selling seen in particular currency pair.
EURINR showed choppy session showed negative movements in second half closed with partial gain. If continues its negative movements then 80.0000 is vital support zone for it below this more bearish movements were expected. On higher level 80.6000 is act as resistance.
GBPINR after gapup opening showed sideways movements and closed around its support. If sustain above 92.0000 mark then continue bullish rally towards next resistance level of 92.6000, whereas 91.7000 is support for it.
JPYINR after correction unable to sustain on lower levels closed around its resistance level. Found resistance around 61.7000 if sustain above it then it may shows more positive movements. On lower levels 61.4000 is immediate support.
Click to submit your details) Just one step to get best trading tips and Recommendation.